Canola Down with Soy Complex, Prairie Rains

May 21, 2021

Canola futures ended weaker on Thursday, with the nearby July contract down its $30/tonne daily limit and more modest declines in the more deferred months.

Traders bailing out of long positions accounted for the selling pressure in July, with most of the commercial attention now on the new-crop contracts. Domestic crushers and line companies are generally pricing off of the November contract, for both old- and new-crop business, due to the volatility in July.

Losses in the Chicago Board of Trade soy complex and strength in the Canadian dollar contributed to the declines in canola. Widespread rains across Western Canada were also bearish for values. However, more precipitation will be needed going forward, with canola still looking relatively cheap given the tight supplies and solid demand projections.

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Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

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